estimated; and 2. projection of rental income which is certified by a property valuer approved by the Office; (b) sensitivity analysis which has been audited by an auditor or a financial advisor approved by

by the Office; (b) sensitivity analysis which has been audited by an auditor or a financial advisor approved by the Office, or any other persons approved by the Office. Such analysis shall also

valuer approved by the Office; (b) sensitivity analysis which has been audited by an auditor or a financial advisor approved by the Office, or any other persons approved by the Office. Such analysis shall

by an auditor or a financial advisor approved by the Office, or any other persons approved by the Office. Such analysis shall also disclose the used assumption in the manner that is clear and easy to

+/(-) +/(-) % Employee and executive expenses 67.77 86.79 19.02 28.07% Advisor expenses 12.69 11.53 (1.16) (9.14%) Tax and penalties 22.47 0.25 (22.22) (98.89%) Allowance for doubtful accounts (reversal) (0.31) (0.40

of the Company’s Performance for the three-month period ended March 31, 2019 Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 20.67 29.90 9.23 44.65% Advisor

Seller’s Advisor *** LTM Q1/2019 means the last twelve months period from April 1, 2018 to March 31, 2019 7. Expected Benefits This Transaction would be a strategic fit to enhance IVL’s new growth engines

of export sales that is causing to be in the amount of THB 2.52 million. Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 43.38 64.03 20.65 47.60% Advisor

/61 +/(-) +/(-) % Employee and executive expenses 44.16 65.14 20.98 47.51% Advisor expenses 10.01 8.21 (1.81) (18.03%) Tax and penalties 23.44 0.25 (23.19) (98.92%) Allowance for doubtful accounts

approval in the coming Annual General Meeting of the Company. The Company will appoint an Independent Financial Advisor to give an opinion to shareholders on the appropriateness and rightfulness of the price